Beware of Student Loan Forgiveness Scams: How to Protect Yourself
Published: March 18, 2025
With student loan payments back in full swing, scammers are actively preying on borrowers seeking relief. They lure you with promises of loan forgiveness or reduced payments, but in reality, they're after your money and personal information. This is a pressing issue that requires your immediate attention. Here’s what you need to know to protect yourself.
How Student Loan Forgiveness Scams Work
Scammers often use urgent language to pressure borrowers into making quick decisions. Their tactics include:
• Impersonating government agencies – They claim to be from the U.S. Department of Education or use official-sounding names.
• Charging for free services – Legitimate student loan forgiveness programs never require upfront fees.
• Requesting personal information – Scammers request Social Security numbers, FSA IDs, or bank details to “process” forgiveness.
• Creating fake deadlines – They pressure you to act immediately, claiming you’ll miss out on benefits.
Typos and Grammatical Errors
If you receive a questionable message promising student loan forgiveness and are unsure about its legitimacy, look for unusual capitalization, improper grammar, or incomplete sentences. These types of errors can indicate a potential scam.
Unofficial Addresses or Phone Numbers
Some scammers may use official-looking names, seals, and logos, but that doesn’t mean they are trustworthy. By familiarizing yourself with official communications from the Department of Education and always double-checking the sender’s email address, you can stay one step ahead and in control of your financial safety.
Emails from the U.S. Department of Education will only come from these addresses:
Text messages from them will only come from:
• 227722 or 51592
Still not sure if you’re being scammed? You can check with your local Better Business Bureau to see if there are any complaints against the company.
How to Protect Yourself
• Verify directly with the Department of Education at studentaid.gov for accurate information.
• Ignore unsolicited calls or emails from companies promising forgiveness.
• Never share your FSA ID or personal details with unknown entities.
• Look for official .gov websites—legitimate student loan assistance comes from government sources.
What to Do If You’ve Been Scammed
• Report it to the Federal Trade Commission (FTC) at reportfraud.ftc.gov.
• Contact your loan servicer to check for unauthorized changes to your account.
• Monitor your credit report for suspicious activity.
Student loan forgiveness scams take advantage of financial stress and confusion. Stay informed, trust only official sources, and never pay for services that should be free. If an offer seems too good to be true, probably is.
If you want to learn more, visit:
https://studentaid.gov/articles/avoid-student-loan-forgiveness-scams/
Article content is provided for information purposes only.